TradingView
EXCAVO
Jun 7, 2022 9:44 AM

Ethereum - Wyckoff Events and Phases Short

Ethereum / BitcoinBinance

Description

The dominance of Bitcoin is growing. When Bitcoin is growing - altcoins are growing less or without rising. Bitcoin falls - alts fall even more.
Paired with ETHBTC, we see a Wyckoff Distribution Schematic #2. We are currently in Phase D. The price is approaching a support zone. Most likely, there will be some descending trading near this zone. We will form LPST (a last point of supply) and SOW (a sign of weakness). Next, we are waiting for Phase E.

Best regards,
EXCAVO

Comment

now 0.05372 looks bearish
Comments
Sogeking_Opera
I don't think that is the case. We are slowly approaching a bottom. After that, ETH will get stronger compared to BTC again and with Etherium 2.0 I could see a jump in strength of ETH.
nineWorldsWatchYou
Eth is out of the game for the next cycle. The fees are too high.
EXCAVO
BetyMosley
What about Phase E now?
bizmark
ETHBTC got back up inside the channel. Strong support below, needs to hold:
Matious_Galagtikos
Very well done. Thanks. What happens after Phase E?
Rastiazul
are we on phase E?
EXCAVO
burgercrisis
looks nothing like phase d. approsching end of c latest
More